University of the Pacific, Stockton, Calif., hired Santa Barbara Asset Management to run $7 million in active domestic large-cap growth equities for its $132 million endowment fund, said Larry G. Brehm, associate vice president for business and finance. Funding came from reducing a Vanguard S&P 500 index fund to $15 million, from $22 million. The change was made to improve returns, he said.
The current allocation is 60% domestic equity, 30% domestic fixed income and 10% international equity. Canterbury Consulting advised.